CLARK FREEPORT – The state-owned Clark Development Corp. (CDC) has welcomed P4.1 billion worth of new investments committed in the past seven months by 193 firms which have signed up contracts to locate in this Freeport.
This, even as CDC announced that its cash position has reached P2 billion, after it posted “highest performance” in revenues, net income and cash position last year. The revenue included the P200 million arrears reportedly paid by the Oxford casino.
The CDC marketing department said that another 81,545 new jobs are expected to be created by the new investments.
In a report presented to the Campangans in Media, Inc. (CAMI), the CDC noted that the 193 investments consisted of 12 fi rms which signed with the CDC contracts to lease lands here. They committed investments worth $51.76 million and employ 75,235 workers to be hired in the next five years.
Three of the firms were covered by either “revived or recovered” contracts, while another 275 were covered by sub-leases, referring to firms that signed contracts directly with those who invested in socalled industrial parks at the Freeport. These sub-leases covered $43.22 million worth of investments.
This, even as the CDC noted that 2013 posted the “highest performance” in the records of the state firm since it was founded in 1993. Revenues were at P1.2 billion, net income at P327 million, and cash position at P1.8 billion.
CDC noted that last year, Clark already had 737 locators with investments worth $4.48 billion, exports worth $3.83 billion, and employees numbering 72,945. It also reported that it had recovered 28.34 hectares of idle lands from “non-performing” locators, revived projects totaling 236.66 hectares and worth $177.7 million.
These created 5,000 more jobs after they gave way to 10 new locators. The CDC said that with the current trend in new investments, it expects to create jobs for 100,000 by the end of 2016.
